Memorandum of Understanding was signed in presence of Chief Minister YS Rajasekhara Reddy between Andhra Pradesh (AP) and two textile players Loyal Textile Mills Limited, Chennai and Southern India Mills Association (SIMA), Coimbatore, for setting up their mega products at Textile Park in Nellore district.
Government is to provide 650 acres of land at cost of acquisition plus service charges. SIMA is to invite ten industries to raise an investment of Rs1200 crore and generating an employment opportunity of 15000.
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